Country Overview

Population: 30.7 million

Population growth: 0.96%

Urban %: 78.6%

Urban growth: 1.69%

GDP: $389.1 billion

GDP growth: 3.3%

GDP per capita: $12,200

The Peruvian economy grew by an average of 5.6% from 2009-13 with a stable exchange rate a nd low inflation, due partly to high international prices for its metals and minerals exports, which account for almost 60% of the country's total exports. Growth slipped in 2014 and 2015, due to weaker world prices for these resources.

Dependence on minerals and metals exports and imported foodstuffs makes the economy vulne rable to fluctuations in worl d prices.

Trade and Market Share Issues

Since the U.S.-Peru Trade Promotion Agreement entered into force in February 2009, total trade between Peru and the U.S. has doubled.

U.S., Peru are currently in 9th year of FTA. U.S. corn will receive duty free TRQ for 797 TMT in 2017. TRQ increases 5% per year until phased out in 2021.

When Peru implements the recommendations and ruling of the WTO in the price band dispute regarding agricultural commodities may hinder U.S. price competitiveness in country.

Policy Issues

Peru had its presidential election in 2016, with little-to-no challenges to its agricultural structure and export focus.

Bureaucratic ineffectiveness and corruption are major challenges in Peru.